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AFTER MARKET UPDATE - TUESDAY, APRIL 9TH, 2024
Previous After Market Report Next After Market Report >>>
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DOW |
-9.13 |
38,883.67 |
-0.02% |
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Volume |
807,912,048 |
+1% |
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Volume |
4,928,317,500 |
+12% |
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NASDAQ |
+52.68 |
16,306.64 |
+0.32% |
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Advancers |
1,599 |
58% |
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Advancers |
2,413 |
57% |
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S&P 500 |
+7.52 |
5,209.91 |
+0.14% |
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Decliners |
1,145 |
42% |
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Decliners |
1,839 |
43% |
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Russell 2000 |
+7.09 |
2,080.80 |
+0.34% |
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52 Wk Highs |
138 |
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52 Wk Highs |
133 |
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S&P 600 |
+6.71 |
1,323.70 |
+0.51% |
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52 Wk Lows |
14 |
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52 Wk Lows |
112 |
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Based on noted distributional action in the major indices last week there has been a shift in (M criteria) market conditions from a "confirmed uptrend" to an "uptrend under pressure". Use greater caution.
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Small Caps and Nasdaq Composite Index Led Major Indices
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Dow Jones Industrial Average settled just below its prior close while the S&P 500 and Nasdaq Composite closed the session near their highs. Volume reported was higher than the prior session total on the NYSE and on the Nasdaq exchange. Breadth was positive as advancers led decliners by more than a 4-3 margin on the NYSE and on the Nasdaq exchange. There were 31 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, versus the total of 48 on the prior session. New 52-week highs totals expanded and outnumbered new 52-week lows on the NYSE and on the Nasdaq exchange. The major indices are in an uptrend that is under pressure (M criteria). Greater caution is important for all investors. Always stand ready to protect against losses.
PICTURED: The Nasdaq Composite Index is consolidating above its 50-day moving average line.
Nine of the 11 S&P 500 sectors logged gains ranging from 0.1% to 1.3%. Wednesday's release of the March Consumer Price Index may prompt more decisive market action. There has been a lingering sense that stocks are due for a pullback.
Boeing (BA -1.89%) fell following news that its first quarter deliveries (83) were the lowest since the second quarter of 2021. The New York Times reported that the FAA is investigating whistle-blower complaints about alleged flaws in the 787 Dreamliner.
Megacap leaders sputtered. NVIDIA (NVDA -2.04%), which is still up 72.4% this year, Meta Platforms (META -0.45%), which is still up 46.0% in 2024, and Eli Lilly (LLY -2.58%), which still shows a 29.9% gain on the year, were losing standouts in that respect.
The 10-yr note yield settled five basis points lower at 4.37% and the 2-yr note yield declined four basis points to 4.75%. A fresh $58 billion 3-yr note auction was met with weak demand.
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Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Tech Sector and Gold & Silver Index Led Gainers
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Broker/Dealer Index ($XBD -0.63%) lost ground while the Bank Index ($BKX +0.21%) and the Retail Index ($RLX +0.23%) both posted small gains. The tech sector had a positive bias as the Semiconductor Index ($SOX +0.94%), Networking Index ($NWX +1.36%) and the Biotech Index ($BTK +1.57%) each posted gains. Commodity-linked groups were mixed as the Gold & Silver Index ($XAU +2.19%) rose while the Oil Services Index ($OSX -0.67%) and Integrated Oil Index ($XOI -0.50%) each posted a small loss.
![]() PICTURED: The Semiconductor Index ($SOX +0.94%) has been consolidating above its 50-day moving average (DMA) line.
| Oil Services |
$OSX |
93.60 |
-0.63 |
-0.67% |
+11.58% |
| Integrated Oil |
$XOI |
2,238.05 |
-11.23 |
-0.50% |
+20.17% |
| Semiconductor |
$SOX |
4,870.81 |
+45.42 |
+0.94% |
+16.65% |
| Networking |
$NWX |
793.38 |
+10.66 |
+1.36% |
-4.74% |
| Broker/Dealer |
$XBD |
602.95 |
-3.79 |
-0.63% |
+8.19% |
| Retail |
$RLX |
4,514.41 |
+10.33 |
+0.23% |
+16.09% |
| Gold & Silver |
$XAU |
138.62 |
+2.97 |
+2.19% |
+10.29% |
| Bank |
$BKX |
103.41 |
+0.22 |
+0.21% |
+7.70% |
| Biotech |
$BTK |
5,267.78 |
+81.26 |
+1.57% |
-2.79% |
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Volume Totals Cooling While Perched Near High
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Transdigm Group Inc (TDG -$17.36 or -1.41% and $1,215.93) is holding its ground following a "negative reversal" on 4/04/24 after touching a new all-time high. Its 50-day moving average (DMA ) line ($1,173) defines near-term support to watch.
Fundamentals remain strong. It reported Dec '23 quarterly earnings +56% on +28% sales revenues versus the year-ago period, its 11th consecutive comparison above the +25% minimum earnings guideline (C criteria). Growth has been very strong after a downturn in FY '20 and '21 (A criteria) hurt its earnings track record. It has an 91 Earnings Per Share Rating.
The number of top-rated funds owning its shares rose from 1,332 in Dec '22 to 1,544 in Mar '24, a reassuring trend concerning the I criteria. Its small supply of 53.4 million shares (S criteria) in the public float can contribute to greater price volatility in the event of institutional buying or selling. It has a Timeliness Rating of A and an Accumulation/Distribution rating of C. |
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Color Codes Explained :
Y - Better candidates highlighted by our
staff of experts.
G - Previously featured
in past reports as yellow but may no longer be buyable under the
guidelines.
***Last / Change / Volume data in this table is the closing quote data***
Symbol/Exchange
Company Name
Industry Group |
PRICE |
CHANGE
(%Change) |
Day High |
Volume
(% DAV)
(% 50 day avg vol) |
52 Wk Hi
% From Hi |
Featured
Date |
Price
Featured |
Pivot Featured |
|
Max Buy |
ANET
-
NYSE
Arista Networks
Computer-Networking
|
$294.75
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-2.63
-0.88% |
$299.99
|
1,308,521
48.39% of 50 DAV
50 DAV is 2,704,000
|
$307.74
-4.22%
|
3/18/2024
|
$188.84
|
PP = $292.76
|
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MB = $307.40
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Most Recent Note - 4/5/2024 7:25:06 PM
Y - Still hovering near its all-time high with recent gains lacking great volume conviction. Found support near prior highs in the $292 area and additional near-term support to watch is its 50 DMA line ($279) and an upward trendline connecting its October-March lows.
>>> FEATURED STOCK ARTICLE : Consolidating Abover Recent Highs and Above 50-Day Average - 3/26/2024 |
View all notes |
Set NEW NOTE alert |
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News |
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C
A
S
I |
NVO
-
NYSE
Novo Nordisk ADR
Medical-Ethical Drugs
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$124.86
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-2.60
-2.04% |
$126.74
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3,126,344
57.18% of 50 DAV
50 DAV is 5,468,000
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$138.28
-9.70%
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3/1/2024
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$124.23
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PP = $124.97
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MB = $131.22
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Most Recent Note - 4/8/2024 5:19:16 PM
Y - Posted a gain today with lighter volume. Quietly pulling back below the pivot point of the previously noted "3-weeks tight" base and testing its 50 DMA line ($124.30) which defines important near-term support.
>>> FEATURED STOCK ARTICLE : Volume Cools While Consolidating Above 50-Day Moving Average Line - 4/3/2024 |
View all notes |
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News |
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C
A
S
I |
AXON
-
NASDAQ
Axon Enterprise
Security/Sfty
|
$310.98
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-0.23
-0.07% |
$311.44
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304,536
61.65% of 50 DAV
50 DAV is 494,000
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$325.63
-4.50%
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4/5/2024
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$309.90
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PP = $325.73
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MB = $342.02
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Most Recent Note - 4/8/2024 5:17:45 PM
Y - Color code was changed to yellow with new pivot point cited based on its 3/04/24 high plus 10 cents. Volume totals have been cooling while hovering in a tight range near its all-time high. Volume-driven gains above the pivot point are needed to trigger a proper technical buy signal. Its 50-day moving average (DMA) line ($291) defines near-term support to watch. Fundamentals remain strong. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Volume Totals Cooling While Building a New Base - 4/8/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
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C
A
S
I |
TDG
-
NYSE
TransDigm Group
Aerospace/Defense
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$1,215.93
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-17.36
-1.41% |
$1,234.29
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129,962
60.45% of 50 DAV
50 DAV is 215,000
|
$1,246.22
-2.43%
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12/12/2023
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$1,000.39
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PP = $1,013.18
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MB = $1,063.84
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Most Recent Note - 4/9/2024 5:23:10 PM
G - Holding its ground following a noted "negative reversal" on 4/04/24 after touching a new all-time high. Its 50 DMA line ($1,173) defines near-term support to watch. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Volume Totals Cooling While Perched Near High - 4/9/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
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C
A
S
I |
CRWD
-
NASDAQ
CrowdStrike Holdings
Computer Sftwr-Security
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$310.75
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-2.98
-0.95% |
$316.00
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1,847,262
47.55% of 50 DAV
50 DAV is 3,885,000
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$365.00
-14.86%
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1/2/2024
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$246.42
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PP = $261.91
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MB = $275.01
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Most Recent Note - 4/8/2024 5:24:35 PM
G - Still lingering below its 50 DMA ($317.59) with volume totals cooling. A rebound above the 50 DMA line is needed for its outlook to improve. It has not formed a sound base. Fundamentals remain strong after it reported Jan '24 quarterly earnings +102% on +33% sales revenues versus the year-ago period.
>>> FEATURED STOCK ARTICLE : 50-Day Moving Average Line Support Being Tested - 4/1/2024 |
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Company Profile |
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News |
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C
A
S
I |
Symbol/Exchange
Company Name
Industry Group |
PRICE |
CHANGE
(%Change) |
Day High |
Volume
(% DAV)
(% 50 day avg vol) |
52 Wk Hi
% From Hi |
Featured
Date |
Price
Featured |
Pivot Featured |
|
Max Buy |
PCAR
-
NASDAQ
Paccar
Trucks and Parts-Hvy Duty
|
$119.19
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-3.32
-2.71% |
$122.89
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2,460,907
113.15% of 50 DAV
50 DAV is 2,175,000
|
$125.50
-5.03%
|
1/23/2024
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$100.35
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PP = $98.57
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MB = $103.50
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Most Recent Note - 4/9/2024 5:30:11 PM
G - Pulled back today with +13% above-average volume, retreating from its all-time high. Very extended from any sound base, its 50 DMA line ($113.37) defines near-term support to watch. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Hit New High With 5th Consecutive Gain - 3/21/2024 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
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C
A
S
I |
HUBB
-
NYSE
Hubbell
Electrical-Power/Equipmt
|
$409.17
|
-6.57
-1.58% |
$420.92
|
460,996
104.30% of 50 DAV
50 DAV is 442,000
|
$429.61
-4.76%
|
1/30/2024
|
$343.26
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PP = $336.83
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MB = $353.67
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Most Recent Note - 4/8/2024 5:25:52 PM
G - Holding its ground after a noted "negative reversal" at its all-time high on 4/04/24. It is very extended from the previously noted base. Its 50 DMA line ($380.73) defines important support to watch.
>>> FEATURED STOCK ARTICLE : Hubbell Perched at All-Time High After 5 Weekly Gains - 3/22/2024 |
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Company Profile |
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News |
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C
A
S
I |
MANH
-
NASDAQ
Manhattan Associates
Computer Sftwr-Enterprse
|
$242.18
|
+0.09
0.04% |
$243.60
|
323,803
84.10% of 50 DAV
50 DAV is 385,000
|
$266.94
-9.28%
|
1/31/2024
|
$240.57
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PP = $230.71
|
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MB = $242.25
|
Most Recent Note - 4/5/2024 7:34:27 PM
G - Sputtering beneath its 50 DMA line ($247.20) this week raising concerns. Recent lows in the $239-241 area define important near-term support where violations would raise greater concerns and trigger a worrisome technical sell signal.
>>> FEATURED STOCK ARTICLE : Manhattan Associates Consolidating Above 50-Day Moving Average - 3/25/2024 |
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C
A
S
I |
USLM
-
NASDAQ
U.S. Lime & Minerals
Bldg-Cement/Concrt/Ag
|
$300.43
|
-2.98
-0.98% |
$303.74
|
26,867
107.47% of 50 DAV
50 DAV is 25,000
|
$308.00
-2.46%
|
2/9/2024
|
$254.68
|
PP = $265.09
|
|
MB = $278.34
|
Most Recent Note - 4/8/2024 12:34:27 PM
G - Inching higher again today for a new all-time high, extended from the previously noted base. Its 50 DMA line ($273) defines near-term support to watch.
>>> FEATURED STOCK ARTICLE : Gain With Light Volume for Best Ever Close - 4/5/2024 |
View all notes |
Set NEW NOTE alert |
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News |
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C
A
S
I |
NOW
-
NYSE
ServiceNow
Computer Sftwr-Enterprse
|
$782.22
|
-3.38
-0.43% |
$795.44
|
789,898
67.17% of 50 DAV
50 DAV is 1,176,000
|
$815.32
-4.06%
|
2/22/2024
|
$771.75
|
PP = $815.32
|
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MB = $856.09
|
Most Recent Note - 4/5/2024 7:22:30 PM
Y - Posted a solid gain today with average (higher) volume, finding support near its 50 DMA line ($770). Prior lows in the $730 area define the next important near-term support to watch.
>>> FEATURED STOCK ARTICLE : NOW Quietly Rebounded Above 50-Day Moving Average Line - 3/20/2024 |
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News |
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C
A
S
I |
Symbol/Exchange
Company Name
Industry Group |
PRICE |
CHANGE
(%Change) |
Day High |
Volume
(% DAV)
(% 50 day avg vol) |
52 Wk Hi
% From Hi |
Featured
Date |
Price
Featured |
Pivot Featured |
|
Max Buy |
SNPS
-
NASDAQ
Synopsys
Computer Sftwr-Design
|
$568.97
|
-7.40
-1.28% |
$583.24
|
1,018,168
94.71% of 50 DAV
50 DAV is 1,075,000
|
$629.38
-9.60%
|
2/22/2024
|
$600.65
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PP = $582.85
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MB = $611.99
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Most Recent Note - 4/5/2024 7:35:58 PM
Y - Volume totals have been cooling while still consolidating just above near-term support at its 50 DMA line ($566). More damaging losses would raise concerns and trigger a technical sell signal. Previously noted - " A strong volume-driven gain and close above the pivot point is needed to clinch a proper technical buy signal."
>>> FEATURED STOCK ARTICLE : Rallying From Support at 50-Day Moving Average Line - 3/19/2024 |
View all notes |
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News |
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C
A
S
I |
PAY
-
NYSE
Paymentus Holdings
Finance-CrdtCard/PmtPr
|
$21.41
|
+0.14
0.66% |
$21.71
|
258,770
69.38% of 50 DAV
50 DAV is 373,000
|
$25.21
-15.07%
|
3/5/2024
|
$19.97
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PP = $18.89
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MB = $19.83
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Most Recent Note - 4/8/2024 5:20:26 PM
G - Posted a gain today with higher (+28% above-average) volume. It is extended from the previously noted base. Its 50 DMA line ($18.80) coincides with prior highs in the $18 range defining important support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Consolidating After Powerful Breakout and Volume-Driven Gains - 3/27/2024 |
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C
A
S
I |
HUBS
-
NYSE
HubSpot
Comp Sftwr-Spec Enterprs
|
$659.13
|
-11.02
-1.64% |
$678.61
|
538,884
102.64% of 50 DAV
50 DAV is 525,000
|
$693.85
-5.00%
|
4/4/2024
|
$686.66
|
PP = $660.10
|
|
MB = $693.11
|
Most Recent Note - 4/5/2024 11:51:26 AM
Y - Gapped up today and on track for a solid gain. On the prior session it finished in middle of its intra-day range after highlighted yellow in the mid-day report with pivot point cited based on its 2/09/24 high plus 10 cents. Hit a new 52-week high with a volume-driven gain triggering a technical buy signal after finding prompt support at its 50 DMA line ($617) in recent weeks. Reported Dec '23 quarterly earnings +59% on +24% sales revenues versus the year-ago period, its 6th consecutive quarterly comparison well above the +25% minimum guideline (C criteria). Annual earnings history (A criteria) has been strong. Faces some resistance due to old overhead supply up to the $866 level. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Encountered Distributional Pressure and Finished Below Pivot Point - 4/4/2024 |
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C
A
S
I |
|
|
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THESE ARE NOT BUY RECOMMENDATIONS!
Comments contained in the body of this report are technical
opinions only. The material herein has been obtained
from sources believed to be reliable and accurate, however,
its accuracy and completeness cannot be guaranteed.
This site is not an investment advisor, hence it does
not endorse or recommend any securities or other investments.
Any recommendation contained in this report may not
be suitable for all investors and it is not to be deemed
an offer or solicitation on our part with respect to
the purchase or sale of any securities. All trademarks,
service marks and trade names appearing in this report
are the property of their respective owners, and are
likewise used for identification purposes only.
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